Loose Diamonds: Everything You Need to Know
By: Author Christopher F. Neil
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Loose diamonds are often overlooked, but we’re here to change that. If you’re keen on learning about loose diamonds and everything you need to know about loose diamonds, you’re in the right place.
Here, you’ll find out everything regarding loose diamonds, and even maybe develop a liking towards them instead of the diamonds found in jewelry.
So, before we dive into it, you should know that loose diamonds are diamonds that have been cut and then polished but aren’t embedded in any type of jewelry.
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Have you ever seen those social media videos of people spilling a bag of little diamonds and counting them? Well, the diamonds in those videos are loose diamonds.
But, without any further ado, let’s jump straight in and see what we have in store for you when it comes to loose diamonds!
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As we’ve previously briefly mentioned, loose diamonds are diamonds that have been cut and then polished, but they haven’t been embedded in any type of jewelry.
But are diamonds that fall out of jewelry considered loose diamonds? Do any other diamonds fall under this category?
Well, these are all quite complex questions, but luckily we have all of the answers for you right here. Polished but outside of jewelry are considered loose diamonds. All of the diamonds that are cut. So, even if you do have a ring on which a setting came loose, and a diamond fell out, that diamond is now considered a loose diamond (or a lost one, depending on whether you find it after coming out or not).
Now, some dealers deal in only loose diamonds, and those are popular with people that like to pick their diamonds by diamond cuts, clarity, and everything else related to the diamond before they pick the rest of the jewelry (setting, precious metals, etc…), but more on those dealers later.
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We’re telling you this just so you can get a better understanding that these diamonds aren’t unusual and hard to find. It’s also crucial to mention that uncut. On the contrary, loose diamonds are very popular, especially amongst diamond enthusiasts and collectors. Unpolished diamonds aren’t considered loose diamonds. These types of diamonds are called raw diamonds, and they’re a completely different category of diamonds.
So, the general rule is that loose diamonds need to be both cut and polished in order to be considered loose.
But, it’s not important whether the loose diamonds were once embedded in a piece of jewelry or not. The only thing that’s important is that they’re not surrounded by precious metal (embedded in a piece of jewelry).
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One more important thing – these diamonds can be chipped or new, so their condition isn’t a requirement for the categorization of loose diamonds.
A Short History Of Loose Diamonds
We all know that diamonds have been popular with kings. Queens when it came to the decoration of their crowns.
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But, as we now know, loose diamonds don’t belong in a crown, nor do they belong in any kind of jewelry.
But, we’ve done all in our power to bring you all the interesting pieces of information about loose diamonds from the past, and here they are. Funny enough, it’s speculated that the diamond was a partially polished and cut diamond, technically making it a loose diamond.
But that’s only the beginning.
What do we mean by that? Even when diamonds were found in pieces of jewelry, they would often be removed from them, the precious metals would be melted and formed into ingots, and diamonds would be transported separately.
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This is, of course, with some exceptions, so in cases of king’s crowns being taken as a trophy from the battlefield, the diamonds from that crown weren’t removed.
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So, loose diamonds have always been a popular option when it comes to long-range transport.
The only problem with that is that small diamonds that aren’t attached to anything are easy to lose, so this transportation method came with a bit of a risk to it.
In modern times, there are insurance companies that specialize in loose diamonds, and you can easily insure your diamonds in case they get lost or stolen in transport.
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Apart from the obvious difference in being or not being embedded, there are a few differences between loose and fixed diamonds that we’d like to inform you about.
Diamonds that are cut and polished for a jewelry piece are approached in a certain manner. Similarly, diamonds that are meant to be loose are approached in a different manner.
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The beauty of loose diamonds is that even though a loose diamond has a lower clarity grade or is worse color-wise if cut and polished by a professional, it can look even better than a diamond that’s better rated but embedded in a piece of jewelry. Why so many diamond collectors search for loose diamonds. This is why loose diamonds are popular.
If you’re a diamond enthusiast, you want to be able to admire the diamond and look at it from different angles instead of being able to see only parts of it due to it being embedded in a jewelry piece.
So, there is a big difference in looks, but does that mean that these diamonds are graded better?
The answer is no, they’re not. The fact that they potentially look better than the embedded diamonds doesn’t bring their grading up in any way, shape, or form.
Also, these diamonds make it easier for diamond appraisers to appraise the diamond and see certain imperfections that would otherwise be hardly seeable on an embedded diamond.
These all may seem like minimal differences but trust us – in the diamond world, these differences change the game completely.
This leads us to the biggest difference – the keeping of the diamonds.
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While loose diamonds have their advantages, they’re hard to keep intact. Can easily chip or be damaged otherwise. These diamonds are brittle.
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Mounted diamonds are safer since they’re protected from multiple sides and aren’t as likely to chip, break, or be damaged in any other fashion.
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Don’t get us wrong, mounted diamonds do get damaged, just not as often as loose diamonds.
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On the other hand, loose diamonds are often kept in very safe places such as safes, deposit safes, and glass safety boxes that are coated in soft materials that keep diamonds from ending up broken.
So, you can see why the manner in which you keep loose diamonds is much more different than the way you keep jewelry pieces that have diamonds in them.
Loose diamonds are in most cases bought from loose diamond dealers or jewelry stores that keep loose diamonds in their assortment.
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Most of the time, you’ll find yourself shopping for loose diamonds from diamond dealers since they specialize in these kinds of diamonds and have a much larger supply to choose from.
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This is also your safest and most reliable way of shopping for loose diamonds under certain conditions.
Those conditions are that the diamond dealer from which you’re buying your loose diamond is certified, that they have a certificate from a reputable source for a diamond you’re looking to buy, and that they aren’t a small dealer that has no reviews from previous customers.
By following these three conditions, you’re keeping yourself safe from all kinds of scams and sketchy deals, and dealers that may try to sell you a fake or an illegally obtained diamond. Go to the first dealer you find without considering these three very important parameters. Waiting to find such a dealer is a small price to pay in comparison to what you may end up buying if you just go ahead.
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As we’ve mentioned just now, you can buy loose diamonds from the same place you buy mounted diamonds from – the jewelry store.
There are some jewelry stores and jewelers that keep loose diamonds in their supply in case someone who’s shopping for loose diamonds ends up in their jewelry store. But, these instances are rare, and you’ll most likely be met with a much smaller pool of diamonds to choose from.
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If that’s something that you’re okay with, you can visit the nearest jewelry in your area and ask if they deal in loose diamonds.
Your safest bet is that you don’t buy any kind of diamonds, especially loose diamonds, from any unreputable source. Keeping away from them even though they are cheaper might even save you a few dollars.
How? Well if you buy a diamond from a “shady” dealer for a price that is 30% or 40% lower than at your regular diamond dealer, you’re risking buying a low-quality diamond, a diamond that has been stolen and needs to be flipped for a profit quickly, or even a diamond that’s not actually a diamond (diamond imitation).
We all know about blood diamonds, but can loose diamonds be blood diamonds? Well, actually the chances are low, but we do understand your concern.
Blood diamonds are often uncut and unpolished since they’re excavated and sold for a profit immediately by warlords that are looking to get some money to fuel their conflict.
So, a small number of blood diamonds are actually cut and polished which means that in 99% of the cases, you’re safe when buying loose diamonds.
But, that doesn’t mean that a loose diamond can’t be stolen or uncertified which can cause you as much trouble as a blood diamond might.
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Also, the majority of blood diamond dealing today is met with hard resistance from the community of countries that have decided to put an end to the sales of blood diamonds.
This means that even if you wanted to get your hands on a blood diamond, it would be much harder than you’d think.
Blood diamonds are sold on the underground black market anyways, so if you’re buying from a credible dealer or jeweler, you have zero reasons to be afraid of your loose diamond actually being a blood diamond.
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Actually, the majority of lab-grown diamonds are loose diamonds since they’re first grown, then they’re cut, and then polished. This is all true if the lab-grown diamonds are for sale. Not intended for heavy diamond-coated machinery.
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So, if a lab-grown diamond is intended for sale, it’ll be cut, polished, and sent off to be embedded and become a mounted diamond.
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In that process, the diamond is technically considered a loose diamond until the point of embedding, so almost every lab-grown diamond is, at the beginning of its “life”, considered a loose diamond.
Of course, some of these diamonds remain loose and are put up for sale like that since a lot of people find it “thrifty” to buy loose lab-grown diamonds and pick out the rest of the ring (or any other piece of jewelry they may like); and then put it all together for a fraction of a price that would be hanging off of a premade jewelry piece with a natural diamond.
Loose Diamonds – Price
The price of loose diamonds may vary from many different factors. Just to name a few crucial factors when it comes to loose diamond price:
Cut
Clarity
Color
Carats
Polish method
– Country of import
These are all very important things when it comes to loose diamonds and their price, but let’s take a look at some general price tags you might run into when shopping for loose diamonds. You’re looking to spend anything between $8,000 and $11,000 on it.
This price fluctuates and changes depending on your clarity, color grade, and cut quality.
Cut quality is something that’s often overlooked, but the fact that you see more of the diamond that’s not embedded just means that cut is even more important than with the mounted diamonds.
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Just to make sure you understand – the price of a 1-carat loose diamond can vary from $2,500 all the way to $20,000 easily. That’s how big the gap is, and what you’re looking for will determine what you’ll pay for it (just like with regular diamonds).
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Loose Diamonds – Pros & Cons (In Comparison To Regular Diamonds)
Now that you know the majority of important facts about loose diamonds, it’s time to see what pros and cons come with these diamonds, and then we’ll let you decide whether loose diamonds are worth buying or not.
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Loose Diamonds – Pros
Here’s the list of pros of loose diamonds:
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– Cheaper than embedded diamonds
– Easy to carry around
– Much more beautiful
– Look better than their mounted counterparts
– Easier to sell (go to the website)
– Can save you money
As you see, there are quite a few pros to loose diamonds. First of all, they’ll be cheaper than the mounted diamonds since you don’t need to pay for precious metals surrounding the mounted diamond.
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Second of all, you’ll find it easier to sell loose diamonds if needed, and you’ll be shocked by how much money you’ll save if you go for a loose diamond that you’ll embed in a piece of jewelry later.
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Thirdly, these diamonds are much more convenient for transportation. Besides that, you can admire loose diamonds much better than mounted diamonds since embedded diamonds are covered by precious metals and other parts of jewelry that they’re embedded in.
Loose Diamonds – Cons
Here’s a list of cons when it comes to loose diamonds:
– Easily lost
– Can’t be found as often as regular diamonds
– Can be of lower quality
– Brittle and easy to damage
Although loose diamonds are better than mounted diamonds in some instances, they have their downsides.
For example, loose diamonds are lost much more easily. They are small, and if you don’t carry them in a proper container, chances are you’ll lose them.
Also, you’ll find loose diamonds a bit harder to find than mounted diamonds. This may not be as bad as you’d think, but if you’re urgently looking for a loose diamond – you might not find it in time.
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And lastly, these diamonds can be of lower quality and masked with great polish and cut work. So, be careful when buying them and ask for a certificate for a specific diamond that you’re looking to buy.
Oh, and they’re also much more prone to damage if not stored properly.
Conclusion
Now you have all of the necessary information about loose diamonds. From technical knowledge, history, and all the strengths and weaknesses of these small things.
We hope that we’ve provided you with enough pieces of information so you feel a bit more knowledgeable when it comes to loose diamonds and that you’ll potentially find your new hobby in them.
If not as collectors, then as admirers. All in all, we wish you happy diamond shopping and further research!
Embarking on the journey to find the perfect natural diamond can be exciting and overwhelming. Understanding the nuances of the diamond industry. Making informed choices is important.
But over the past 20 years, rising operational costs and a dwindling supply of diamonds have made large-scale industrial mining increasingly unviable.
Once confined largely to the country’s estimated 6,100 abandoned or ownerless mines, officials say illegal mining is increasingly spilling over into operational mines too. The men, almost all of whom have arrived in the past two years, share the work and split whatever profits they make. Out in the desert, living conditions are bleak and working conditions even worse, but with some basic tools and a little knowledge of geology, they manage to make ends meet.
“This is where we find the diamonds. In the past, they used hammers and chisels. But if you use a jackhammer, you can take out more rock and then there are more diamonds for you.”
The miners have little in the way of safety equipment, and their tunnels are prone to collapsing. Smaller accidents occur frequently. Often go unreported. But it’s an imperfect system, made harder by the fact that tunnels dug by different groups of miners often collide.
“That’s how some guys died just two holes away from here. So we, the diggers, come in here and take the scraps.” But if we just sit there thinking about it, our kids will die. At the surface, in a stark, lunar landscape of craters and piles of rubble, zama-zamas cluster together around their holes, sifting through gravel and chatting over the low hum of diesel generators. If you get greedy you’ll die down here, and then your family will suffer even more. “The companies left us like they found us – with nothing.
Over several decades, vast quantities of diamonds have been exported overseas, yet most of the area’s roads are still unpaved, service provision is haphazard at 
The camp has enveloped a handful of derelict buildings left behind by the mining companies, where zama-zamas now sleep side by side on filthy mattresses on the floor. The camp, home to around 1,500 people, has no electricity, running water, clinics or sanitation but a surplus of bars and taverns that do a steady round-the-clock trade. “We’re here because of poverty, hunger and joblessness.”
Carefully, he empties its contents into his palm. On international markets they might fetch a substantial sum, he says, but due to the illegal nature of their work, the zama-zamas have little bargaining power and are forced to sell their finds to black-market buyers for a fraction of their true value. About a dozen small, rough diamonds tumble out.
“They 
In its heyday, it was a thriving settlement of 4,000 people with about 30 recreational clubs. “They treat us like we’re criminals,” he says.
It’s for everybody,” she says.
It also laid out plans to make it easier for artisanal and small-scale miners to legally acquire mining rights by streamlining the expensive and time-consuming process of applying for a permit.